A large pharmaceutical company uses the function f(x)=1.714x−3018 to model the amount of money, in billions of dollars, it spends each year on research and development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2011. Question content area bottom Part 1 The company will spend $enter your response here billion on research and development in 2011. (Round to three decimal places.)

Question

A large pharmaceutical company uses the function f(x)=1.714x−3018 to model the amount of​ money, in billions of​ dollars, it spends each year on research and​ development, where x corresponds to the year. Use the function to predict the amount of money it will spend in 2011. Question content area bottom Part 1 The company will spend ​$enter your response here billion on research and development in 2011. ​(Round to three decimal​ places.)

GPT 3.5 · Answer

To find the amount of money the pharmaceutical company will spend on research and development in 2011, we substitute x = 2011 in the given function:

f(2011) = 1.714(2011) - 3018
= 3456.454 - 3018
= 438.454

The company will spend approximately $438.454 billion on research and development in 2011.